The Fund announced today the expiration and preliminary results for its issuer tender offer for up to 50% of the outstanding shares of common stock (“Shares”) of the Fund (the “Tender Offer”). The Tender Offer expired on Thursday, June 20, 2024 at 5:00 p.m., New York City time.
Based on current information, approximately 7,259,865 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeds 6,393,645 Shares, the Tender Offer has been oversubscribed. Therefore, in accordance with the terms and conditions specified in the Offer to Purchase, the Fund will purchase Shares from all tendering stockholders on a pro rata basis, disregarding fractions. The purchase price and final number of Shares validly tendered and accepted pursuant to the Tender Offer will be announced at a later date. The Fund expects to make cash payments for tendered and accepted Shares at a purchase price equal to 100% of the per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on June 20, 2024.
Payment for such Shares will be made on or about June 25, 2024. Shares that were not tendered will remain outstanding.